PSA quarterly revenue exceeded forecasts

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The French car manufacturer PSA Group, the second largest in Europe, following the results of the third quarter, reported a revenue growth of 7.8% in annual terms up to 15 billion 428 million euros. The indicator was favorably affected by the restoration of the Opel-Vauxhall brands that the group bought from General Motors in 2017. The sales of more expensive Peugeot models also contributed to the growth of the indicator. Analysts had expected a less significant growth in revenue – up to 15 billion 270 million euros. In the first nine months of this year, revenues amounted to 30 billion 634 million euros, rising by 8.2%. The reduction in sales worldwide in the third quarter was 16.7%, while in Europe their growth was recorded at 8.1%. At the same time in the Middle East and Africa, there was a drop in sales of 84.1%.

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